USDA Loan

Loan for eligible rural residents that meet income guidelines

Provides USDA Insurance in the event the homeowner defaults on the loan. The insurance creates less risk, allowing for loans with small or no down payment for qualified customers. USDA has a maximum household income limits that changes annually, and restrictions for the location of the property.

Mortgage Inquiry

Low

Generally lower down payments than conventional loans

Easy

Our lending process is easy and convenient

Local

Loan decisions done locally to ease approval process

Rates

Fixed-rate loan options available

Down Payment

Up to 100% financing*

Gift or Grant

May allow you to use gift or grant for all or a portion of your closing costs

No Application Fees

INB does not charge for submitting a USDA loan application

Insurance

Provides USDA insurance* to lenders in the event the homeowner defaults on the loan

Loan Limits

The USDA does not set a maximum loan amount other than limits based on borrower qualifications and property characteristics

MortgageLoanTypes

*The United States Department of Agriculture (USDA) provides mortgage insurance to the lender. USDA mortgage insurance provides lenders with protection against losses against mortgage payment default. You typically are required to pay a nonrefundable one-time fee that may be financed into the loan amount, as well as an amount that is included in the monthly mortgage payment.